Section 15.23.350. Payment of contributions.

	(a)  The department will directly deposit contributions made to beneficiary organizations into the financial institution account of the agent organization. At the same time that it issues electronic deposits to individuals applying for the permanent fund dividend each year, the department will electronically deposit the contributions made to all eligible beneficiary organizations receiving contributions.   
	(b)  The department will prepare a report for the agent organization that sets out for each beneficiary organization the amount contributed, the applicant locater number assigned by the department to each individual making a contribution to the beneficiary organization, and the information, if any, authorized to be released by that individual.  
	(c)  If a dividend remains unpaid for any reason after December 31 of the dividend year, contributions elected with the application for the dividend expire December 31 of the year for which the contribution is associated.  

Authorities

43.23.062

Notes

Authority

AS 43.23.062 ________________________

History

Eff. 1/1/2009, Register 188; am 1/1/2011, Register 196